I-T refunds worth over₹26,000 cr settled:CBDT

Our Bureau Updated on May 22, 2020

The Central Board of Direct Taxes (CBDT) on Friday said that refund claims of nearly 17 lakh income tax assessees have been settled till May 21.

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“CBDT has issued tax refunds worth ₹26,242 crore to 16,84,298 tax assessees since April 1 to May 21,” the Finance Ministry said in a statement. Out of this, 15.81 lakh assessees belonged to the personal income-tax category and they got ₹14,632 crore. While the remaining 1.02 lakh assessees were in the corporate tax category and were paid ₹11,610 crore.

CBDT said the refund process has been further expedited since Finance Minister Nirmala Sitharaman’s announcement made in the Atamanirbhar Bharat Abhiyan in the last week. CBDT released a sum of ₹2,050.61 crore in the week ended May 16 to 37,531 personal income tax assessees and a sum of ₹867.62 crore to 2,878 corporate tax assessees.

In the week ended May 21, yet another 1,22,764 personal income tax assessees were refunded ₹2,672.97 crore and 33,774 corporate assessees, including trusts, MSMEs, proprietorships, partnerships, etc, were issued refunds worth ₹6,714.34 crore. The total amount refunded was ₹9,387.31 crore to 1,56,538 tax assessees.

Published on May 22, 2020

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